Annual Meeting Retirement Sessions

Speakers discuss the latest developments in the private pension sector. Recent rulings and regulations - proposed and final - are covered, in addition to pending retirement plan legislation and recent litigation activity.

Panelists discuss how nonqualified plans fit into an executive's overall financial plan. Speakers at this consider the effect of recent and proposed tax changes, as well as the impact of other changes in the environment, on how participants and plan sponsors view these plans.

You tell me that it's evolution; Well, you know; We all want to change the world. A lot has evolved in the pension annuity purchase market over the last few years. Speaker address some of that evolution including the increasing market size, the use of independent fiduciaries, assets-in-kind transactions, the use of reinsurance, and other issues affecting the marketplace. We’ll also briefly touch on plan termination issues, but those will be more fully covered in “Lessons Learned from Plan Terminations” (Session 401).

(Polling Included) Pension actuaries must consider how COVID-19 will affect the assumptions used in valuing pension plan obligations. Mortality is a natural assumption to start with, but the pandemic has dramatically affected the economy and workforce demographic patterns and will likely affect several assumptions. Speakers share how they are approaching this critical topic.

PBGC representatives discuss current topics and issues relevant to single and multiemployer retirement plans.

Panelists address issues surrounding participant behavior and how predictive analytics can be used to identify patterns.

(Polling Included) Fiduciaries play a vital role in administering retirement plans, and the stakes are high, as a breach of duties can lead to personal liability. The speakers cover who is considered a plan fiduciary, the roles and responsibilities of a fiduciary, and best practices for protecting oneself in the event of a lawsuit or government audit.

Outwit. Outplay. Outlast. Come prepared to take on other EAs in this exciting game of EA trivia. You’ll need your HP-12C, a computer/tablet/phone with an internet connection, and lots of stamina to make it through this grueling 75-minute session of past EA exam questions. At stake is eternal EA glory to brag about for years to come (some of our past winners are still bragging).

What methods exist to put an overfunded plan to good use for small plans? Speakers discuss the tools as well as introduce new approaches to handling current or potential overfunded situations.

Consultants and other providers have learned numerous lessons from the increased activity around plan terminations. Speakers discuss what works and what doesn’t, along with what’s on the horizon as plan termination work continues to grow.

(Polling included) Accounting for defined benefit pension plans presents its own challenges whether due to differences in accounting standards (IFRS, US GAAP), changes in audit procedures and standards, or client activities that occur during the year (mergers, acquisitions, curtailment, settlement, plan amendments, special termination benefits, etc.). At this session, the speakers discuss some of the questions and situations that arise requiring further consultation and provide an update on what to anticipate for the upcoming fiscal year-end disclosure season.

Speakers at this session focus on some of the finer points of plan administration that may only impact a small percentage of a plan’s population but can cause some of the biggest headaches if not properly addressed. Potential topics include required minimum distributions, actuarial increases, suspension of benefits notices, QDROs, top 25 lump sum restrictions, and missing participants.

The pace of merger and acquisition activity continues to accelerate, and integrating diverse workforces has never been more important. Bringing together the benefit programs from two legacy organizations raises a host of actuarial, accounting, compliance, and human resource issues. Presenters at this session share their experience and provide strategic insight on what drives a successful outcome.

The American Rescue Plan Act of 2021 was the most significant single-employer pension plan funding legislation since the Pension Protection Act of 2006. Panelists provide a brief overview of the single-employer pension plan provisions in ARPA, review any related regulatory guidance, and discuss various funding strategies and implications a plan sponsor may want to consider in response to the new legislation.

Employee Plans Compliance Resolution System (EPCRS) provides a way for plan sponsors to voluntarily correct plan errors. Speakers provide an overview how the program works, and other issues relating to correction of errors.

Learn about strategies to follow and pitfalls to avoid when dealing with a wide variety of PBGC issues related to defined benefit plans. Topics covered include reportable events, corporate transactions (bankruptcy, 4062(e), dividend recaps), audits, missed contributions and more.

(Polling Included) The Code of Professional Conduct and ASOPs provide a strong professional framework, but what happens when you fall into the gray area of professional judgement? What if your judgement is called into question? Come ready to discuss case studies related to the gray area of professional judgement. Not to be confused with the ethics sessions, this discussion will focus on professional judgement.

Social Security has been the cornerstone of retirement income for millions of Americans since its introduction in 1935. Much has changed over the years, yet the last major reforms to the Social Security were in the early-1980s. The system is rapidly drawing down its financial reserves and will be unable to pay full benefits in the near future. Speakers at this session provide an overview of the current system, identify some areas for improvement, and offer insightful thoughts on how to address the projected deficits.

Meeting the needs of employees in retirement can be challenging. Speakers discuss how innovative designs being implemented in Canada and financial wellness designs in the US are changing the retirement planning discussion within many diverse workforces. Also, an actuary from the plan sponsor side shares the effect of emerging conversations from a plan sponsor’s perspective.

(Polling Included) ASOP 56 Modeling became effective October 1, 2020. Speaker discuss this important new ASOP and address how it applies to your daily work.